Colombian Peso Strengthens Past 3,000; Inflation Seen Peaking
- Currency gains most in emerging markets to two-week high
- CPI rose to 8.97% in June, faster than analysts estimated
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Colombia’s peso gained the most in emerging markets on Monday as oil prices rose.
The currency jumped 1.7 percent to 2,988.38 per dollar at 10:39 a.m. in Bogota, strengthening past the 3,000 level for the first time in two weeks. The peso has gained 6 percent this year after losing 25 percent in 2015 and 19 percent the year before.